“Mancession” is a word coined by economists to describe the disproportionate difference between male and female job losses in the US, where four out of five jobs lost were held by men.
According to The Times, the UK too is in the grip of a "mancession". The Office for National Statistics has revealed that more than 120,000 women have found part-time work in the past quarter while 50,000 men have been made redundant from their jobs.
To corroborate rumours of a "mancession", the Equality and Human Rights Commission is due to issue a report this month saying that men in Britain are finding it harder to find and secure jobs in the downturn. The number of men at work is at its lowest level for a whole decade, partly due to the decline of the manufacturing and construction industries.
Liz Jackson, founder of £3m-turnover marketing company Great Guns Marketing, says that the secret to women’s success is their ability to multi-task and turn crises to their advantage: “Many of these women are working mothers and wives," she says. "They get used to having to juggle and be very creative with their time and their diaries. Chaps are fearing the recession, women are seeing it as an opportunity.”